Tuesday, August 21, 2018

Tsipras warns of fresh battles after bailout ends Greek premier says country has endured an ‘odyssey’ of austerity

by Kerin Hope

Financial TimesAugust 21, 2018

Alexis Tsipras, prime minister of Greece, has warned of “fresh battles ahead” as the country prepares its first budget measures following the end of its international bailout.

In his first public remarks since Athens’ exit from its eight-year rescue programme, Mr Tsipras said Greece was now free to “reshape its future . . . as a normal European country”.

The premier spoke on Tuesday on the island of Ithaca — consciously comparing Greece’s travails with those of the mythological hero Odysseus, who endured an arduous 10-year journey before reaching the island, according to Homer’s epic.

“Greece has lived through its own odyssey, including €65bn of austerity measures . . . We’re starting a new era today, with a sense of responsibility that Greece won’t return to the years of deficits and bankruptcy,” he said on state television, against a backdrop of the island’s picturesque port.

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This blog is dedicated to the understanding of the current Greek (but also European) economic, political and institutional crisis. It was created by Prof. Aristides Hatzis of the University of Athens, after many requests by his students who seek a source of reliable analysis on the Greek current affairs. Its aim is to post commentary and reports published mainly in the major U.S. and European media and to encourage a rigorous discussion.